• Monday, May 27, 2024
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BusinessDay

Developers swoop on Agbara-Igbesa, invest N50bn

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Real estate developers have swooped on the Agbara-Igbesa axis of Ogun State with investment portfolio estimated to be in excess of N50 billion, a developer in that axis told BusinessDay.

This investment, the developer said, is in response to the on-going expansion of the Lagos-Badagry Expressway from its present four-lane to 10 lanes, explaining that since Igbesa Road is off the expressway, investors see demand and value increase.

Industry chiefs noted that while some investors are purchasing land for investment and security purposes, middle income earners have been buying properties for residential purposes with the aim of relocating to the area.

Ibidire Adetunji Lams, Freshland Palms Estate developer, confirmed to our correspondent that the past couple of years have seen huge sales in land and houses in about 80 estates that have emerged in the area.

ODINAKA MBONU